Spotify Technology SA SPOT shares are trading higher in Wednesday's after-hours session after Alphabet Inc GOOG GOOGL announced the launch of a pilot program designed to explore more billing options on third-party platforms.
"We’ll be partnering with developers to explore different implementations of user-choice billing, starting with Spotify. As one of the world’s largest subscription developers with a global footprint and integrations across a wide range of device form factors, they’re a natural first partner," said Sameer Samat, vice president of product management for Google.
Users who have downloaded Spotify from the Google Play Store will be presented with a choice to pay with either Spotify’s payment system or with Google Play Billing. Over the coming months, Spotify will work with Google’s product and engineering teams to build the new billing experience.
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SPOT 52-Week Range: $118.20 - $305.60
Spotify shares were up 4.35% in after hours at $155 at press time.
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